News
Press release...
Benefit Resources, Colorado Insurance Center Announce Merger
New company will be one of the region’s largest business benefits providers
January 21, 2004, Colorado Springs, Colo. - Benefit Resources and Colorado Insurance Center today announced a merger. The two companies, which have been operating in Colorado Springs for over 20 years, will join forces to create the region’s largest independent benefits provider.
The combined companies will do business as Benefit Resources, and will be owned by partners Jeff Ahrendsen, Bruce Helm and George Martin. The new company will have a combined staff of 16, revenues of more than $2 million, and a client list of 800 Colorado businesses.
“This merger brings two strong companies under one roof, and provides our clients the tremendous benefit of additional leverage with insurance providers” said Ahrendsen, founder of the original Benefit Resources. “We hope to be able to solve client problems and reconcile claims issues faster and more efficiently.”
Martin, who founded Colorado Insurance Center in 1981, says Benefit Resources will make significant investments in new technology. “We intend to build systems that will provide outstanding value to our clients, including online support on critical human resources issues”
The companies’ combined resources will put it in position to provide additional and more comprehensive services to clients, including administrative support on compliance issues surrounding COBRA, HIPAA and the Family Medical Leave Act. Benefit Resources will also now help to provide compliance, human resources and benefits education for employers.
The company will be headquartered in downtown Colorado Springs at 320 S. Weber Street.
Background on the Merging Companies
Founded in 1987, Benefit Resources, Inc. manages benefits administration and human resources issues for more than 400 businesses in Colorado. A select group of eight benefit specialists dedicated to providing exceptional service to business owners and human resources professionals, the company provides clients accurate, timely information regarding benefit and funding options, legislative changes and industry changes.
Colorado Insurance Center, Inc. (CIC), established in 1981, was one of the largest privately-held independent employee benefits agencies in Colorado. Founded and led by George W. Martin, CIC’s experienced, professional staff serves clients throughout Colorado. The company provided business products including group medical, dental, vision, life and disability, employee pensions and 401(k) plans, supplemental insurance, and voluntary benefits.
